Iraqi government agrees in principle to establish a free market with Kuwait
09/11/2011 10:34

Baghdad, November 9 / October (Rn) - The Iraqi government announced that it has agreed to set up an initial free-market near the port with Kuwait Safwan border crossing, which links the two neighbors.

The chancellor said the Iraqi government, Abdul Hussein al-Jabri told the Kurdish news agency (Rn) that "Iraq expressed his preliminary approval on establishing a free market with the Kuwait border near Safwan port to promote trade between Baghdad and Kuwait."

He added that the proposed "spirited more than 600 Iraqi and Kuwaiti business to establish a free market similar to the free market between Iraq and Jordan, Syria, and that would contribute to the recovery of the commercial reality between Iraq and Kuwait."

He said Al Jabri said that "when you get the approval of the Kuwaiti government the two sides will allocate the appropriate place to establish a free-market near the port Safwan," noting that "the Iraqi government is working to expand trade with Kuwait and to address the outstanding problems between the two countries through dialogue and exchange of concessions without affecting the other ".

The Iraqi government says, that the volume of trade with Kuwait reached $ 250 million annually.

The Ministry of Trade in Iraq that the volume of trade with Iran, except for oil activities reached $ 4 billion and trade volume with Turkey did not exceed $ 10 billion for all commercial activities, while the total volume of trade with Jordan, $ 1 billion, with Syria and $ 2 billion.

Iraq seeks to open multiple investment areas with the regional countries that have economic participants with him, including Iran, Saudi Arabia, Syria, Kuwait, Egypt and other countries.